InTrust Server fails the Requirement Check during an upgrade (215322)

While attempting to upgrade InTrust, the Requirement Checklist fails on the InTrust Server with the error:

InTrust Default Package Compatibility:

When you set up the default InTrust deployment, mind the presence of previous versions of InTrust Server on the computer. If InTrust Server was installed as part of a previous default deployment (or, formerly, Basic Package), then you can safely proceed. However, if it was installed as part of an extended deployment (formerly, Full Package), then you must first uninstall the older InTrust Server version.